FSCS pays out on Lifemark tax claims

The FSCS says it has resolved 11,950 of the 13,500 claims it has received from Category Two investors, and offered compensation in 80% of cases. However, it warns the pay-out has no bearing on the rest of the decision to compensate across Category Two claims in general. Category Two claims relate to Keydata investments incorrectly sold as ISA-qualifying and backed by Lifemark SA. The FSCS says it is currently only able to consider claims in respect of any tax liability which has arisen due to the products being wrongly described as ISA-qualifying. A spokesperson for the scheme ...